The JSE continued its upward trajectory, adding 0.23% to end the day at 64,197.36 points as a surge in the oil price supported global markets.
Petrochemicals giant Sasol spurted 5.5%, with Investec Ltd (+6.49%) and Investec plc (+5.45%) adding to the positive momentum.
Commodity counters were mixed, tracking the mixed performance in the commodity markets. Gold is holding steady at $1,753 and platinum gained 0.44% to $991.47, but palladium was slightly down at $1,970.36.
Alphamin Resources lead the gains with a 9.95% jump, while Thungela Resources added 4.42%, Harmony 3.75% and Gemfields 3.74%. On the downside Sibanye Gold (-5.05%), Implats (-4.60%) and Northam (-4.25%) all lost.
Hammerson added 5.53% after announcing it will a pay a dividend and an enhanced script dividend alternative will be paid as an ordinary dividend and not as a Property Income Distribution.
Retailers Clicks (-3.63%) and Shoprite (-4.25%) were also among the losers.
“The rand has been on its own mission today and tested R15.08 earlier today. The market has not been as risk-off as other emerging markets currencies, and equities are relatively mixed, making the move that much more curious,” comments TreasuryONE.
The forex trading house believes the primary alternative for this move is that the euro has broken below $1.17 and perhaps led to some more dollar strength. “We continue to monitor this as an indicator for further dollar strength.”
The unit hit R15.09 against the US dollar before clawing back some losses to last trade at R14.93 against the greenback.
In the commodities space, Brent crude was the star performer, adding 1.8% to last trade just 50c short of $80 a barrel. WTI tracked Brent crude and higher to last trade around $76 a barrel as oil demand is expected to reach pre-pandemic levels as soon as the start of 2022. Gold is holding steady at $1,753 and platinum gained 0.44% to $991.47, but palladium sere slightly down at $1,970.36.
Indicators as at 17:00
Currencies
USDZAR 14.9655
EURUSD 1.1699
EURZAR 17.5029
GBPUSD 1.3706
GBPZAR 20.5055
AUDZAR 10.8946
CADZAR 11.8372
CNYZAR 2.3163
ZARJPY 7.4107
CHFZAR 16.1531
USDAOA 606.67
Bonds and equities
R186 7.62%
US 10 Year 1.49%
JSE 0.33%
FTSE 0.26%
S&P 500 0.02%
Commodities
Gold $1 749.09
Plat $978.08
Plad $1 966.24
Rhod $14 490.00
Irid $4 990.00
Ruth $673.00
Copp $9 340.00
Brent $79.46
Iron Ore 62.5% $120.10
Coal API4 $167.00
Gold ZAR R26 170.06
Plat ZAR R14 634.13
Indicators brought to you by TreasuryONE
